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The Last Loan For Current Primary Residence
No More Refinancing Costs
No More Chasing Rates
All Guaranteed by this California FDIC Bank
Featured Portfolio Lender's ARM Fixed Rate Option
Borrowers may elect to convert to a 30-year or 15-year fixed-rate anytime from the 1st interest rate change date through the 5th change date with no fee. Available on 5/1, 7/1 and 10/1 ARM.
Conversion Interest Rate
Fannie Mae's required net yield for 30-year fixed rate first mortgage, covered by applicable 60-day mandatory commitments plus 1%. Historic Data.
Arm Adjustments
After the fixed term expires the ARM will adjust annually based on the current 12-month LIBOR Index Rate plus a 2.500% Margin. Once the ARM adjusts the loan is fully amortized over the remaining 30-year term.
Interest-Only ARM payments are during the initial term. Once the loan adjusts the monthly payment is fully amortized over the remaining 40-year term.
1st ARM adjustment cannot exceed 3%. Subsequent adjustments cannot exceed 2%. Lifetime adjustments cannot exceed 5%. Historic Data.
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Rudi Hofmann, Unique Mortgage Banker of California American Capital Corporation
2121 Rosecrans Avenue, 6th Floor,
El Segundo,
CA
90245
Office: (714) 730-1862
Rudi@PorfolioLoansCA.com
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